Recap Euro consolidated between Y+2 (the crime scene before the last flush) and Y-0 (wedge breakout support). Y+1 / 1.10 did not act as support hence no short term trend change yet. Closed the week below Y+1 and midpoint.
Outlook Summer trading was suppose to be slow and tight range. But here we go again Greece is having another referendum over this weekend. This time the ruling party itself is at the crossroad. Cannot tell what the impact is so Euro is a wait and see for me this week.
Lawrence's Comment
Recap
Gap up early in the week failed to push above Y+1. Formed a double top and sold off from there. Flushed to Y-2 as expected. Bounced quickly ...
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
Lawrence's Comment
Recap
Y-0 resistance sent Euro lower. Y-1 not strong support as explained last time. Euro found support after 100% absolute range expansion to the down side. Strong bounce back up ...
Lawrence's Comment
Recap
First thing first, ES slided down to my target Y-2. Support was found and ES started to drift higher. At 100% range expansion, ES could no longer sustain itself ...
EURUSD Aug 03 to Aug 07 Outlook
Lawrence’s Comment
Euro consolidated between Y+2 (the crime scene before the last flush) and Y-0 (wedge breakout support). Y+1 / 1.10 did not act as support hence no short term trend change yet. Closed the week below Y+1 and midpoint.
Outlook
Summer trading was suppose to be slow and tight range. But here we go again Greece is having another referendum over this weekend. This time the ruling party itself is at the crossroad. Cannot tell what the impact is so Euro is a wait and see for me this week.
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